Last chance to draw support from OPEIC

The Enterprise and Innovation for Competitiveness Operational Programme (OPEIC) under the Ministry of Industry and Trade (MIT) is slowly coming to a close before being replaced by the Technology and Application for Competitiveness Operational…

2021 tax package heading to the Chamber of Deputies

The government has submitted to the Chamber of Deputies a bill to amend tax laws in 2021. What news are to be expected in income tax? Apart from the monetary contributions for meals, the changes mainly concern bonds and reporting of income flowing…

When shall we report under DAC 6 for the first time?

The first-time reporting of cross-border arrangements, originally planned to occur already this summer, will be postponed, most likely to the beginning of the next year: the legislative process implementing DAC 6 has been delayed, and the amendment…

COVID-19 and transfer pricing policy – comparability analysis

With the economic downturn brought about by the COVID-19 pandemic, companies face the challenge of determining whether they should modify their transfer pricing policies. The decision has to be made at a time when comparable data necessary for the…

Postponement of digital economy taxation in both CR and other world countries

Despite assurances made in early March that the COVID-19 pandemic will not slow down negotiations on new international taxation rules applicable to the digital economy, the OECD has now made it clear that it is no longer certain that agreement will…

Czech Republic deposits MLI with OECD depositary

On 13 May 2020, the Czech Republic deposited its instruments of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) in Paris. So far, the MLI has been signed by 94…

Effect of COVID-19 on transfer pricing of intra-group loans

The current pandemic puts pressure on firms to keep positive cash flows and cash balances. Multinational groups are thus facing the issue of financing their companies. In the most affected industries, access to bank loans has worsened, leading to an…

New call to participate in TREND

On 29 April 2020, the Technology Agency of the Czech Republic (TACR) announced the third call within the research and experimental development programme, focusing on the creation of research and development results and their use in one´s own…

Ministry of Finance introduces new old-age savings scheme

The Ministry of Finance has prepared a bill introducing a new old-age savings scheme, in form of a long-term investment account. The bill is part of the Czech Capital Market Development Concept for 2019-2023. The new product should work as an…

Amendment to VAT for 2021: e-commerce

From 2021, a special mini-one-stop-shop regime will also apply to the sale of goods by mail order. Under the new amendment, such sales will be taxed in the recipient’s country, potentially excepting small businesses. For harmonisation purposes, the…

Amendment to Tax Procedure Code revisited

The Chamber of Deputies did not pass any of the proposed versions of the amendment to the Tax Procedure Code; the bill thus fell through. Within a week, the Ministry of Finance came up with another bill, drawn up on the same layout as the original…

OPEIC: Last wave of calls includes large entities

The Ministry of Industry and Trade (MIT) has published an updated schedule of calls to participate in the Enterprise and Innovations for Competitiveness Operational Programme (OPEIC) for 2020. These will be the last calls within the current…